An apartment contains 67 flats. The association was registered and not renewed for about 15 years. Present committee members assumed the renewal may go for a penalty of 14-15 lakhs and registered in another name. What are all the legal issues to be faced if new committee assume the office.
Last 4-5 years due to KYC norms, committee is handling only cash and bank accounts are frozen due to KYC norms.
If bank account is opened in the new name and 5-6lakhs deposited in it, will it have any implication with TDS etc...
Will it be any query from Registrar of the society.
